Axis Bank Brutal Devaluation of Atlas/Reserve/M4B/Vistara/Samsung/Flipkart/Ace/Airtel/Myzone/IOCL & Other Credit Cards

[TechnoFino]

With effect from 20th April 2024, the following changes will be applicable on your favourite axis bank credit cards.

Magnus for Burgundy - https://www.axisbank.com/docs/defau...onditions-for-magnus-burgundy-credit-card.pdf
Magnus - https://www.axisbank.com/docs/defau...rms-and-conditions-for-magnus-credit-card.pdf
Atlas - https://campaign.axisbank.com/generic/axis-atlas-credit-card-terms-and-conditions.pdf
on atlas welcome benefit has been reduced to 2500 EM . Earlier it was 5000 EM

Vistara Platinum - https://www.axisbank.com/docs/defau...nditions-for-vistara-platinum-credit-card.pdf
Select - https://www.axisbank.com/docs/defau...rms-and-conditions-for-select-credit-card.pdf
Privilege - https://campaign.axisbank.com/generic/axis-privilege-credit-card-terms-and-conditions.pdf
Flipkart - https://campaign.axisbank.com/generic/flipkart-axis-bank-credit-card-terms-and-conditions.pdf
Ace - https://campaign.axisbank.com/generic/axis-bank-ace-credit-card-terms-and-conditions.pdf
Airtel - https://campaign.axisbank.com/generic/airtel-axis-bank-credit-card-terms-and-conditions.pdf
Indian Oil - https://www.axisbank.com/docs/defau...it-cards/indian-oil-axis-bank-credit-card.pdf

Domestic Lounge - https://www.axisbank.com/docs/default-source/default-document-library/credit-cards/dlg.pdf
Mile Transfer Program - https://campaign.axisbank.com/generic/miles-transfer-program-credit-card-terms-and-conditions.pdf

In short (what changed):

- Buy-one-Get-one free movie/non-movie ticket offer on BookMyShow will be discontinued.
- 24*7 complimentary concierge services will be discontinued (seems like no one using it).
- Complimentary airport meet & assist services reduced and/or discontinued.
- Gold/Jewelry, Govt. Services, Utilities not eligible for milestone, normal reward points - nothing.
- Domestic lounge access required 50,000 in previous 3 calendar months.
- and more..

For individual card related changes do refer respective pdfs.

 

[avinash2711]

Finally CANCELLED my magnus today

 

[shashankrt]

Finally CANCELLED my magnus today

Magnus or Burgundy Magnus?

 

[avinash2711]

Magnus or Burgundy Magnus?

Magnus, renewal was due start of April

 

[card-shard]

Well you are correct for other banks. However Axis actively promoted its Burgundy Accounts to enable M4B as LTF. Technically this can be construed as unfair business practice and can get a big bamboo from RBI if it receives sufficient complaints.

Also all those ppl who opted for M4B are high spenders and Axis will get burned to some extent for sure.

RBI allows banks to change rewards/benefits.
It only enforces that customers should be given 30 days advance notice for feature change, which Axis has already done.
So they have made changes to rewards program within the rules.

 

[shashankrt]

RBI allows banks to change rewards/benefits.
It only enforces that customers should be given 30 days advance notice for feature change, which Axis has already done.
So they have made changes to rewards program within the rules.

Well what axis has done is treading a grey line. Normal cards RBi wouldn't mind. However multiple devaluations for same card multiple time a year - that too after asking high deposit for eligibility definitely can qualify for an action. Also RBI has much larger power than set rules. Couple of years ago HDFC was banned for having defective systems in place. So will not be surprised if Axis is fined or banned.

 

[Rahul92]

I think Burgundy Private Debit card is excluded from Devaluation as of today. May be tomorrow shall get the surprise devaluation gift from the bank for Private DC as well lol

So , Burgundy customers who got Burgundy private debit card , are safe for now !!

 

[shibili]

Not required. QR code from dreamfolks does not display name of card holder.

Basically that QR is just 8 digit number only, but its linked with card holder details in the backend. They are not cross checking it normally, thats why some people are getting access through that

 

[Deleted member 9785]

Axis only wants customers from whom it can make money and not the other way round

 

[SSV]

For all account holders Myzone LTF..for limited period only
Details

Post in thread 'Axis Bank Liberty Savings Account Benefits' https://www.technofino.in/community...rty-savings-account-benefits.1504/post-578854

 

[card-shard]

For all account holders Myzone LTF..for limited period only
Details

Post in thread 'Axis Bank Liberty Savings Account Benefits' https://www.technofino.in/community...rty-savings-account-benefits.1504/post-578854

Myzone is available as LTF since March-01 for everyone from Axis website.

 

[SSV]

Myzone is available as LTF since March-01 for everyone from Axis website.

I didn’t know, do you know??
Have you posted about this fact?
Available to everyone means - including non account holders??
They do this campaign alternating between neo and myzone.. for that you need to apply and get approved…

This is a different campaign, it seems…
All account holders get approved LTF

 

[NShah]

This is a different campaign, it seems…
All account holders get approved LTF

On call or new application ?

 

[SSV]

On call or new application ?

It seems for all sb account holders you have,
1) either My zone / Neo LTF pre approved
2) Thru either App/ customer care…
Check at both places..
No new application is recommended in my view

 

[bvc19296]

On call or new application ?

You can check on pre approved section if you have 2 or 1 cards. You can see Myzone offered as LTF.

 

[NShah]

either My zone / Neo LTFbpre approved

3 to 4 days ago I asked for myzone LTF they denied but they are providing neo LTF on call

 

[bvc19296]

3 to 4 days ago I asked for myzone LTF they denied but they are providing neo LTF on call

Just try from Pre approved section.

 

[NShah]

Just try from Pre approved section.

My first Axis CC got approved last month

 

[bvc19296]

My first Axis CC got approved last month

Then you need to wait for 2 more months for pre approved offers to be opened up.

 

[NShah]

Then you need to wait for 2 more months for pre approved offers to be opened up.

I got NEO Rupay LTF on call

 

[techt]

I got NEO Rupay LTF on call

It's axis version of MB+